I'm a big proponent of shorter barrel length, and think that 16" is a good length for a rifle chambered in .223. You don't gain any accuracy with longer barrels, but you do gain velocity. Velocity is very important for this round since the most significant tissue damage occurs when the bullet tumbles and fragments. Between a 16" and 20" barrel though, you'll only gain approximately 100 fps with most rounds, and that speed will drain off in about 25 yds. However, velocity also affects bullet drop. Up to about 300yds the bullet drop will not be affected mugh, but at 600 yds the bullet will drop about 20" more with a 16" barrel over a 20" barrel. At that range you're approaching 1000fps - although I've always suspected that changes in twist rate and flight angle plays a part in how the bullet acts at longer ranges, most people would say the .223 round isn't very effective at that range. So for effect, a 16" barrel will match every advantage of a longer barrel up to the rounds effective combat range. Of course if you only plan to ever shoot paper or steel, it will make the same sized hole no matter how fast it's going, and 20" less drop is pretty significant at 600yds. For a gun you want to stretch the capabilities of the round from a bench rest and do not plan on carrying much, a 20" barrel or even a 24" barrel has advantages.